Treasury Secretary Scott Bessent said Thursday that the bond market is signaling that the Federal Reserve should be cutting rates. "We are seeing that two-year rates are now below Fed funds rates, so that's a market signal that they think the Fed should be cutting,

The bond market is sending a signal that the Federal Reserve should be cutting interest rates, U.S. Treasury Secretary Scott Bessent said on Thursday, noting that yields on 2-year Treasury notes were lower than central bank's policy rate.